Business

Brazilian real estate fintech Pontte raises a BRL 160 million round

The firm provides real estate secured loans and real estate financing and its main backer is Mauá Capital

Photo: Pontte/Website Screenshot
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  • Pontte said it will use the funds to expand loan offering, hire professionals, and invest in technology;
  • The announcement comes at a time of effervescence in the Brazilian civil construction chain.

The Brazilian real estate-focused fintech Pontte announced on Tuesday that it had raised an investment round of BRL 160 million (nearly $29 million) from a global investor whose name was not disclosed.

Founded in May 2019, Pontte provides real estate secured loans and real estate financing. Its main investor is Mauá Capital, the asset manager of Luiz Fernando Figueiredo, former director of the Brazilian Central Bank.

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Pontte said it will use the funds to expand the loan offer, strengthen the team, and invest in technology. Its goal is to lend about BRL 400 million in 2020. “The investment reinforces our capacity in the market, without taking any risk in our operation,” said Pontte’s CEO, Marcelo Lubliner in a statement.

The announcement comes at a time of effervescence in the civil construction chain, which continued to grow in the country even during the Covid-19 pandemic, partly due to the fall in basic interest rates, which reached the historic low of 2% per year this month.

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The Brazilian Association of Real Estate Credit and Savings Entities (Abecip) said that credit for the purchase and construction of real estate advanced 28.6% in the first half of the year, to BRL 43.35 billion. And in the wake of the recent easing of the Brazilian Central Bank on secured loans, the Brazilian state-owned bank Caixa Econômica Federal announced plans to strengthen its operation in the sector.